Yep, I think you're correct on that one. . . 226.20 support can only hold so long. However, we may see it go to 225.40/50 area. If that happens then we'll will definitely see 231 shortly.

Auslanco - GBP/JPY and GBP/USD (newstrade)

No, I'm long and have been @ 226.30's. . . Right now my charts are showing an uptrend and an oversold condition, so I'm expecting GJ to start north by the end of the NY session going into the Asian session. GJ seems to be supported down to 226.20 ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

It dropped. . . Why if you don't mind me asking?

Auslanco - GBP/JPY and GBP/USD (newstrade)

Question for Senior Members Can someone point me in the direction or briefly explain to me the rules they use for either SMA, EMA or LRI (Linear Regression Index) on charts (1hr, 4hr, daily, weekly, monthly) and what periods. . . Don't mean to ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

The news is old news and has already been taken in consideration. . . Yesterday, the Fed Biege Book revealed doom and gloom for US but it has what they believe is a corrective action in place - a rate cut (25bps/50bps (maybe)). Also, taken in ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

Or could it be just testing lower resistance range @ 109.65/70 area???? Right now UJ is stuck in a range which could be broken to the upside or to the down side. Range = 109.65/70 - 110.20 Yes if UJ breaks to the downside with a falling GU, GJ will ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

FX-Petra, can you poit me Aus. Momentum Thread, I did a search but didn't come up with it, or is there a link on the daily blog? Never mind found it. . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

226.19 is S1 on hourly pivot, S2 is 225.85 on hourly (which is also 61.8% fib.) url

Auslanco - GBP/JPY and GBP/USD (newstrade)

M2B, I really appreciate the detailed explanation. I was trying to wrap my hand around how momentum worked but was still a bit confused up until now. Ultimately, my goal is to trade daily (Aus.'s strategy) as I see it as being less stressful and ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

FX-Petra, Thank you very much for that information. . . Is that in Aus. daily blog or his daily momentum thread?

Auslanco - GBP/JPY and GBP/USD (newstrade)

I know it looks like UJ is breaking down however its actually being accumulated at these level. . . I expect UJ to break out of consolidation of 109.60-110.20 and head toward 111.00-111.76 soon. . . This trade will also need some Karmo patient pills ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

We also have daily support right below that @ 225.38 if we should slide below to 61.8% fib. line. . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

Thxs, you da' man. . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

No stop loss for me. Not trading more than I can afford. I'll let this one ride until 2morrow if I have to but my target is 230/231 so if we touch 225.43 then it will surely go to 231. I'll re-evalute after that. . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

Don't leave me out I'm long right with cha's. . . GJ might go down and check the 50% ret. low for today but doesn't matter as long as it's supported. The target is 230/231 over the next day. My reason for long over the next day is 2morrow is the end ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

Thought the information below might be helpful to someone on this thread. . . Market Fixing One of the approximately 5 times during the FX day when a large amount of currency must be bought or sold to fill a commercial customers' orders. Typically ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

We love GJ for many pips but hate'em for taking tooooooo long. . . Take another patient pill, it will drop within the few minutes catch'em while you can. . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

Zero profit is always better than being in the red on a trade. You traded what "YOU" saw which is always best to be safe than sorry. . . There always and will be more pips to chase. . .

Auslanco - GBP/JPY and GBP/USD (newstrade)

It may overshoot just a lil' bit. . . May even hit the 50% fib line. . .

Auslanco - GBP/JPY and GBP/USD (newstrade)